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Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (152,625) $ (838,065) $ (111,277)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation 31,245 45,030 43,985
Amortization 3,540 3,402 3,371
Amortization of deferred financing costs 475 463 500
Straight-line rent amortization (503) (216) (871)
Stock compensation expense 3,338 1,495 869
Deferred income taxes   (2,187) 3,469
Other   1,178 1,820
Loss on extinguishment of debt 1,563 47  
Impairment charges   672,492 0
Equity in losses from unconsolidated ventures, net of distributions and impairment charges 42,768 81,364 37,124
Provision for (recovery of) doubtful accounts 3,824 328 (2,268)
Net Changes:      
Accounts receivable 5,203 (5,285) 671
Other assets, net 157 (12,254) 1,575
Deferred expenses, net (521) (175) (2,329)
Accounts payable and other liabilities 8,836 1,603 (6,190)
Cash used in operating activities (52,700) (50,780) (29,551)
CASH FLOWS FROM INVESTING ACTIVITIES      
Operating property improvements (6,725) (18,747) (12,206)
Property development and redevelopment (62,520) (44,047) (85,714)
Investments in unconsolidated ventures (34,120) (45,527) (100,112)
Distributions from unconsolidated ventures 484 19  
Cash used in investing activities (102,881) (108,302) (198,032)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from mortgages payable   115,000  
Deferred financing costs (472) (2,251) (295)
Principal payments on mortgages payable (55,603) (101,812) (1,910)
Preferred distributions to noncontrolling interest in subsidiary (587)    
Proceeds from the Rights Offering 166,789    
Net transfers from parent 169,454 125,277 239,617
Cash provided by financing activities 279,581 136,214 237,412
Net change in cash, cash equivalents and restricted cash 124,000 (22,868) 9,829
Cash, cash equivalents and restricted cash at beginning of period 43,845 66,713 56,884
Cash, cash equivalents and restricted cash at end of period 167,845 43,845 66,713
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH      
Cash and cash equivalents 165,667 1,834 16,448
Restricted cash 2,178 42,011 50,265
Cash, cash equivalents and restricted cash at end of period 167,845 43,845 66,713
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Interest paid 12,807 11,227 7,456
Interest capitalized 3,628 8,537 4,028
NON-CASH TRANSACTIONS      
Accrued property improvements, developments, and redevelopments 12,345 3,344 12,408
Capitalized stock compensation $ 441 $ 1,277 $ 3,005